Real Estate Market Report for February 2015

The Toronto Real Estate Board have releases the Real Estate Market report for February 2015. According to their data, a total of 6,338 home sales were reported through the system for February 2015. These figures represent a whopping 11.3 percent increase on the same period in 2014 and this increase was noted not just in the city of Toronto but also in the surrounding GTA Regions. The resulting increase in transactions had the opposite effect on supply with active listings been down by 8.7 percent on the same period in 2014, leading to more competition between buyers. The overall average selling price for February 2015 home sales was $596,163, an increase of 7.8 per cent compared to the average for February 2014. The average price for a detached home in Toronto moved above $1 million dollars for the first time in a calendar month. Closer to home here in the Halton region the average price for a detached home in Milton was $645,196. The average prices achieved for other home types in Milton for February 2015 were as follows

1) Semi Detached $480,000

2) Townhome $445,000

3) Condo Townhome $300,688

4) Apartment $286,875

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